WRF Capital
WRF Capital is the investment vehicle of the Washington Research Foundation, deploying approximately $5 million annually in early-stage Washington state startups. Since 1996, it has backed over 130 local startups across life sciences, information technology, and physical sciences.
36% of their portfolio is in Biotech & Life Sciences. Deal activity decreased year-over-year (1 deals in the last 12 months vs 2 prior). Their most common stage is seed (43% of deals). Average disclosed round size is $32.3M (across 12 rounds with reported amounts).
Portfolio
14
Fund Size
—
Top Stage
Seed
Last 12 Mo
1
Team
Jacqueline Brainard
VP, Operations and Compliance Officer, First Choice Health
Jamie Pedersen
Executive Vice President and General Counsel, McKinstry
Thomas Cable / Co-Founder
Private Investor
Brooks Simpson / Chair
President, Pacific Rim Medical Systems
C. Kent Carlson
Senior of Counsel, K&L Gates (retired)
Connie Collingsworth
Independent Board Member
Jasmine Coleman
Operations Coordinator
Lisa Caldwell
Executive Assistant
Sue Coliton
Senior Consultant, Luma Consulting
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
Portfolio
| Company | Round | Amount | Date |
|---|---|---|---|
 Accipiter Biosciences | Seed | $12.7M | Nov 2025 |
 Accipiter | Seed | — | Jan 2025 |
 Talus Bioscience | Seed | $11.2M | Aug 2024 |
 Outpace | Series B | $144M | Aug 2024 |
 AdaptX | Series A | $10M | Jan 2023 |
 BirchAI | Seed | — | Jan 2022 |
 ThruWave | Seed | $6.4M | Sep 2020 |
 Phytelligence | Series B | $11.9M | Jul 2018 |
 Skytap | Series B | $35M | Dec 2014 |
 GlobeImmune, Inc. | Series C | $41.2M | Sep 2007 |
| DDopl | Seed | $6.3M | — |
 WiBotic | Series A | $5.7M | — |
 Alder BioPharmaceuticals | Series C | $40M | — |
 Omeros Corporation | Series E | $63M | — |
Top Co-Investors
Last updated: 9 September 2026